People’s Choice Voting for TVFCU’s Idea Leap Grant Opens Today!
Graphic courtesy of TVFCU
In The Know with Gino…
The highly anticipated People’s Choice Voting round for the Tennessee Valley Federal Credit Union’s (TVFCU) Idea Leap Grant kicked off today and will run through 5 p.m. on Friday, April 4th.
During this crucial voting phase, community members are encouraged to support their favorite local businesses in Chattanooga, Northwest Georgia, and the Ocoee region as they vie for a chance to secure funding that could turn their entrepreneurial dreams into reality.
The competition offers a significant opportunity for local entrepreneurs, with the top prize of $30,000 up for grabs alongside additional awards of $15,000 and $10,000 for the runners-up. The winning business, voted for by the community, will have the chance to compete for these substantial grants, helping to bolster the local economy and foster innovation.
To participate, voters must verify their votes via email, and each person is limited to one vote per region. Community involvement is crucial for the success of the Idea Leap Grant, as it empowers residents to uplift small businesses that they believe deserve the funding.
Click HERE to place your vote!
A Legacy of Support: The History of Idea Leap
TVFCU launched the Idea Leap Loan program in 2016 to provide much-needed capital to start-up and early-stage businesses that struggled to find funding through traditional means. Building on the success of the loan program, the credit union introduced the Idea Leap Grant in 2018, directing loan proceeds back into the community to further support local entrepreneurs.
In its inaugural year, TVFCU awarded $52,500 in grants, with the Chattanooga School of Language taking home the top grant of $20,000. The program continued to grow and evolve, and in 2022, the credit union celebrated the fifth anniversary of the Idea Leap Grant by awarding a record $50,000 grant to Be Caffeinated, the largest in the program’s history.
In 2023, the Idea Leap Grant expanded even further, hosting separate competitions for the Chattanooga, Ocoee, and Northwest Georgia regions. The credit union’s commitment to supporting local businesses this year reached new heights, disbursing a remarkable $75,000 in grants across all three regions, totaling a whopping $225,000 aimed at empowering 15 locally owned businesses.
To date, nearly 60 unique businesses have benefitted from the Idea Leap Grants. Through this initiative and related scholarships, the program has invested over $720,000 into the local entrepreneurial landscape, underscoring TVFCU’s dedication to nurturing innovation and economic growth within the community.
Now, with the People’s Choice Voting phase officially open, the community has the chance to play an essential role in determining which local businesses will advance to the pitch competitions. Residents are encouraged to show their support and participate in this exciting opportunity to help their local economy thrive.
SOURCES: TVFCU & NOOGAtoday
